Italian tyre maker Pirelli’s revenues in Q1 2012 reached EUR1,55 million, up by 11.1% compared to Q1 2011. The combined operating result after restructuring charges was EUR209.4 million, a 46.1% increase compared to Q1 2011. The firm also recorded a payment of EUR154.5 million for the acquisition of the Russian plants in Kirov and Voronezh.
Japanese firm Yokohama Rubber’s net sales in Q1 2012 increased 7.4% over the same period of the previous year and its operating income increased by 403% to reach US$117 million. The Q1 sales growth reflected strong gains in sales of tyres to automotive makers in Japan and progress in raising prices for tyres and other products in Japan and overseas.
Meanwhile, Nokian Tyres reported increased net sales of EUR384.3 million, a 32.9% boost from EUR289.2 million in Q1 2011. The company said the demand and order book for its car tyres are strong in all its core markets, especially in Russia.
Elsewhere, Hankook Tire continued strong sales growth for Q1 2012, with global consolidated sales of KRW1.71 trillion, a 17.1% year-over-year increase. Hankook’s global sales performance was driven by accelerated sales growth in major markets including the US, Europe, which make up 19.8% and 26.7% respectively of its total global sales. Additionally, sales in emerging markets including, South America and Southeast Asia, increased 32.8%.
Meanwhile, Indian Apollo Tyres says its consolidated annual revenues across operations in Asia, Africa and Europe grew 37% for fiscal year 2011-12. Its Indian operations revenue grew 49% this year as compared to the previous year; Europe saw a growth of 27%, while the African operations also witnessed a 10% growth, despite challenging local circumstances. The total operating profit grew 18%.
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